Skip to main content

tv   CNN Newsroom  CNN  May 7, 2010 11:00am-1:00pm EDT

11:00 am
as i wish you all a happy weekend, i wish you could see tony harris over at other side of studio 7 busting a move for me over there. give me some, tony. >> i was thinking about the ludacris song, how low can you go? 20 years ago -- now i'm only here. here. that's how low i can go. -- captions by vitac -- www.vitac.com here are the big stories for you on friday, may 7th. president obama, live remarks momentarily on the big run up in hiring in april. plus, a man on a mission to find work. >> i'm applying at two or three places a week, leaving applications and everyone's like, we'll give you a call if something comes up and i'll each go to the same businesses twice to see if they lost my application or what have you. >> boy, desperate enough for work to clean porta-potties, a single dad doing whatever it takes for a paycheck.
11:01 am
>> crews lower the boom. a containment dome on a gushing oil well almost a mile under water in the gulf. we talk to the man on the hot seat. bp's top executive, is there a plan b or are we up to plan c? also this. >> nashville has a spirit that won't be put down. >> how about that? nashville cleans up from the historic flood. furniture, appliances, toys and treasures are now trash. good morning. i'm tony harris. those stories and your comments right here right now in the cnn "newsroom." okay. let's get to work here on the new jobs report out this morning. the economy posted the biggest jobs gain in four years and still the unemployment rate went up. we can explain that, we're taking a look at the numbers and the story behind them. first the number and the jobless rate, it rose to 9. % in april and that's because of people streaming back into the job market looking for work.
11:02 am
the number of jobs added last month, 290,000, the most since march 2006. well, the jobs story will be a tough one to tell for a long time. we have been amazed by the stories of people who have refused to give up despite the difficult economy. more of those stories this hour. first, more on the numbers and who's hiring, stephanie elam is in new york with details. if you would, give us a little bit more of the nuts and bolts of the april jobs report just ahead of the president's comments in just a minute or so? >> yeah, tony. when you take a look at this report, it was surprising. it was a much better number than we were expecting. the fact that this many jobs were added is really good news. obviously, manufacturing adding and we have healthcare adding jobs and take a look at the chart that's on the screen now. we've been doing this. this is our one-year chart of job losses. remember, january '09. this is at the point that we saw january of last year and we saw
11:03 am
almost 800,000 jobs lost, now look at us. we've been adding jobs more and more this year. this is a progression in the right direction here. this is what we want to see. also, it's important to point out, too, tony that we saw the numbers revised for march, and more jobs were added. 230,000 job were added and up from 162,000. these numbers are fine, but one thing worth pointing out here is the. %, the unemployment rate did go up and a lot of that has to do with the fact that people waiting on the sidelines until things look better to get back into the labor force are now back looking for jobs and jobs are being added and that's one of the things we see there -- do you need to go? because i know the president has to speak. no, no, no. we'll walk up to the president together here. i want to talk about sectors. where the jobs are and the good jobs and where they are. what sectors are we talking about here? oh, i see the president. i'm sorry, stephanie. >> i see that.
11:04 am
>> we were talking about the jobs report in april and the economy. let's take you to the president. >> on what seems like a daily sis we're barraged with statistics and forecasts and reports and data related to the health of the economy, but from the first days of this administration, amidst the worst economic crisis since the great depression, i've said the truest measure of progress would be whether or not we were creating jobs. that's what matters in people's lives. what matters is whether someone who needs a job can find work, whether people can provide for their families and save future and achieve some measure of economic security. everything we've done has been with this goal in mind and today i'm happy to report that we received some very encouraging news. in april, the economy added 290,000 jobs with the vast majority, approximately 230,000 coming from the private sector.
11:05 am
this is the largest monthly in years and we created 12 1,000 more jobs than previously estimate which means we've seen growth for four months in a row. these numbers are particularly heartening when you consider where we were a year ago with the economy in freefall. at the height, at the time i took office we were losing an average of 750,000 jobs per month so this news comes on the heels of a report last week that the overall output of our economy, our gdp is increase. we now know that the economy has been growing for the better part of a year and the steady growth is starting to give businesses, the confidence to expand and to hire new people. i should also note that the unemployment rate ticked up slightly from 9.7 to 9. 9. given the strength of the numbers it may seem contradictory and this is a reflection of the fact that
11:06 am
workers who dropped out of the workforce entirely are now seeing jobs again and are now seeking jobs again, encouraged by better prospects. now, i want to emphasize, the economic crisis we faced has inflicted a lot of businesses across the country and it will take time to repair and rebuild. over the course of this recession, 8 million jobs were lost. there are a lot of people experiencing real hardship and we have to be mindful that today's jobs numbers while welcome, leave us with work to do. it will take time to have sustained growth which is necessary and before this recession hit for a decade. middle-class families are facing the decline of economic security. yes, we've got a ways to go, but we've also come a very long way and we can see that the difficult and at times, unpopular steps that we've taken over the past year are making a
11:07 am
difference. productivity is up. the hours people are working are up. both are signs that the companies may be hiring more workers in the months to come. we saw the largest increase in manufacturing employment since 1998 and we can see the benefits of our recovery act in the strong employment reports from construction and other sectors where we've made key investments in creating and saving jobs. of course, there are limits to what the government can do. the true engine of job growth in this country will always be the private sector. that's why we're very pleased to see the strong employment growth on the private sector side. what it can do is build the infrastructure and offer incentives that will allow small businesses that will help entrepreneurs take a chance on the idea. that will leave manufacturers to set up shop, not only overseas,
11:08 am
but here in the united states of america. >> right now a series of tax incentives and other steps to promote hiring are taking effect because of a bill i signed into law, businesses are eligible for tax cuts for hiring unemployed workers. companies are also able to write off all of their investments in new equipment and we have clean energy projects and road construction which will create jobs while laying a new foundation for lasting growth. 4 million small businesses recently received a postcard in their mailbox telling them that they're eligible for a healthcare tax cut this year. it's worth perhaps tense of thousands of dollars to each of these companies and will provide welcome relief to small business owners who too off have to do without healthcare and hiring. that's what's come online, but we still have more to do. in my state of the union address i called for a $30 million small
11:09 am
business lending fund which will increase the flow of credit to companies hit hard by the decline in lending that followed the financial crisis and small businesses are a major source of job creation. this morning we sent draft legislation to congress on this fund which now includes a new state, small business credit initiative. the state initiative which was designed with the help of governors and numbers of both the house and the senate will help expand lending for small businesses and manufacturers at a time when budget shortfalls are leading states to come back on vital programs. in addition, with state and local governments facing huge budget gaps, we're seeing layoffs of teachers, police officers, fire fighters and other essential public servants which not only harms the economy, but also the community and the economy as a whole. so we are working with congress to find ways to keep our teachers in the classrooms and the police officers on the beat and fire fighters on call.
11:10 am
a few months ago i also proposed giving people rebates to upgrade the energy efficiencies of their home. this will not only save family money and hit hard the construction and manufacturing sectors since things like windows and insulation are overwhelmingly made in the united states of america. i was gratified to see a bipartisan vote to pass this proposal called homestar in the house of representatives yesterday. i'm calling on the senate to act as well. an emerging congress to expand the clean energy manufacturing tax credit which is helping to build jobs across america building wind turbines and solar panels. even as we take these steps to increase hiring in the short and long run, we're also mindful of other economic factors that can emerge. so i want to speak to the unusual market activity that took place yesterday on wall street. the regulatory authorities are evaluating this closely with protecting investors and prev t
11:11 am
preventing this from happening again and they'll make reviews along with recommendations for appropriate action. i also spoke this morning with german chancellor merkel regarding economic and financial developments in europe. we agreed on the importance of a strong policy response by the affected countries and a strong financial response from the international community, we'll continue to cooperate with european authorities and the imf during this critical period. so this week's job numbers come as a relief to americans who found a job, but it offers, obviously low comfort to those out of work. so to those out there still looking, i give you my word that i'm going to keep fighting every single day to create jobs and opportunities for people, every one of my team that's standing alongside me here has the same sense of mission. we're not going rest until we put this difficult chapter
11:12 am
behind us, and i won't rest until you and millions of your neighbors caught u storms are able to find a good job and reach a brighter day. thank you very much, everybody. >> there you have it. president obama touting the jobs report for april. it's a good number, too, 290,000 jobs added. we want to bring in stephanie elam. nice job walking us up to the president here. a good number for the jobs report in april. 290,000 jobs added. where are the jobs and what sectors are seeing some hiring? >> yeah. let's take a look at that because we actually did dig into the numbers a little bit to see who was adding jobs during the month and you can see that you've got business services adding 80,000 jobs and the government and it has to do with the sense us and they're knocking on people's doors who they didn't hear from. they are up 60,000. leisure and hospitality, also adding jobs and education and
11:13 am
health care adding 35,000 jobs, manufacturing and construction. construction is note worthy to point them out and they're up 14,000 jobs during the month. this is the second month of gains. construction, remember the housing sector is where all of the trouble began, right, tony? >> that's right. >> they've had three straight years of losses so they're finally adding jobs again and that's a good sign as well. retail adding 12,000 jobs there so it shows that things are moving in the right direction and if you look at it this way, tony, the economy's actually added jobs in five of the last six months and that's a good sign as well that we are progressing in the right direction and we obviously would like to see more of this even if the markets are shaking it off today. >> right. >> because of so many other things. this is good information. >> yeah. yeah, you made the segwssio seg. yesterday was. >> right. >> are we seeing a hangover yesterday because we have
11:14 am
selling going on today? we're off of session lows, but we're still in negative territory. >> we are still in negative territory. we thought wield open higher and we opened lower and we went back lower off close to 300 pointses and now we're coming back and only off three-quarters of a percent and it is a lot better and people are watching what's going on in europe. the members of the eu meeting today to see how they'll vote about taking care of greece. they voted to do that, to take care of greece and that's one thing that's stabilizing. no one expected to see what happened yesterday happen again today. one note i will tell you about the nasdaq, though, tony, is that it is off 1 1/3%, but a lot of this has to do with apple being off about 3.5% because they are being sued by nokia for allegedly infringing on their patents, about five of their patents and they're saying that the iphone 3g and the ipad 3g, are part of the issues there. we'll keep our eyes on it, but
11:15 am
it sounds like there are more technical reasons today than just a free for all like we saw yesterday. we're okay to deal with these normal days. >> yeah. fat-finger trading. >> we don't know if that's the case. it looks like just too much volume going through and the computers got ahead. so we won't say fat fingers. >> computers. appreciate it. more on this later again next hour. we'll take a closer look at the good, the bad and even the ugly in today's job report. economist danny boston of georgia tech joins us in the next half hour to talk about the numbers today. so the big question for many today is how much will this cleanup cost? you know what we're talking about in the gulf. cnn's david mattingly talks exclusively with the ceo of bp. that's one-on-one and that's an exclusive interview and that's coming up in just minutes right here in the cnn "newsroom." but calcium, vitamin d and exercise may not be enough to keep your bones strong. so ask your doctor about once-monthly boniva. boniva works with your body to help stop
11:16 am
and reverse bone loss. studies show, after one year on boniva that's exactly what it did for nine out of ten women. and that's what it did for me. (announcer) don't take boniva if you problems with your esophagus, low blood calcium, severe kidney disease, or can't sit or stand for at least one hour. follow dosing instructions carefully. stop taking boniva and tell your doctor if you have difficult or painful swallowing, chest pain or severe or continuing heartburn, as these may be signs of serious upper digestive problems. if jaw problems or severe bone, joint, and/or muscle pain develop, tell your doctor. i've got this one body and this one life, so i'm glad boniva helped me stop losing and start reversing. ask your doctor about boniva today. (announcer) to get one month free, plus more tips and recipes, visit boniva.com or call 1-800-4-boniva.
11:17 am
boss: so word's gettin' out that geico can help people save in even more ways -
11:18 am
on motorcycle insurance, rv, camper, boat insurance. nice work, everyone. exec: well, it's easy for him. he's a cute little lizard. gecko: ah, gecko, actually - exec: with all due respect, if i was tiny and green and had a british accent i'd have more folks paying attention to me too... i mean - (faux english accent) "save money! pip pip cheerio!" exec 2: british? i thought you were australian. gecko: well, it's funny you should ask. 'cause actually, i'm from - anncr: geico. fifteen minutes could save you fifteen percent or more on car insurance. . angry protests if athens after lawmakers passed drastic measures to trim the country's massive debt. could these scenes be repeated across europe. leaders are meeting in belgium to finalize a greek rescue plan. the greek financial crisis weighed heavily on elections in
11:19 am
britain and those election results are about as clear as the fog in london. conservatives won the most seats, but appear shy of a majority in parliament. what happens now? cnn's max foster is outside number ten downing street in london. good to see you. sitting prime minister gordon brown, my understanding, gets first shot at forming a government. i can't imagine that will prove successful, after all, labor lost, correct? >> it's an extraordinary situation. it's very unusual here in the uk and effectively what happened is david cameron of the conservatives, as you say, got the most votes, but under the british system he can't become prime minister until the current prime minister gordon brown actually resigns. he's refusing to do so until he makes another effort at staying in power. his last effort is to win around the third party and liberal democrats and nick heads that party. so gordon brown has made a direct appeal to join labor in a
11:20 am
coalition and gordon brown can stay in power, but just after that happened, we had david cameron offering the same thing and they're fighting supporters to get in power. in the meantime, we just have to wait and see what happens. it's extraordinary and very unusual for the uk. >> so nick clegg, the leader of the liberal democrats as kingmaker here. tell us a little about him. >> reporter: well, he's an extraordinary story, actually, because about a month ago very few people in the uk had even heard of him, but during the election campaign which only lasts a month in this country, he went to prominence because he performed extremely well in tv debate, the kind of presidential debates that you're used to and only came to this country this year and he did really well in that and everyone knows his name now and he's a bit of a star and he didn't perform well on the night and he's still a kingmaker because the other two parties are neck and neck and that's
11:21 am
essentially where we've ended up here. we have a situation where nick clegg basically will decide wot next prime minister will be. he's the most powerful person in britain right you in. it's extraordinary. >> can conservatives rule as a minority government? >> reporter: they can, but it doesn't work well under the british political system. we're just used to having one party in power and they're getting their sort of legislation through parliament very easily. he may well try, but as we learned today, he actually wants a coalition with the liberal democrats and he has a proper power base in order to get things done. it's quite hard to have a minority government under the uk system. >> max foster for us, good to see you. thank you. let's get you caught up on top stories right now. crews are getting a containment dome in place over a gushing wellhead in the gulf of mexico. it may be several days before they know whether the contraption will be able to
11:22 am
capture the escaping crew. protesting arizona's new immigration law they laid out on the street outside the detention facility in los angeles and don't eat the romaine lettuce if it's freshway or imperial sysko brand. three are hospitalized with life-threatening symptoms. bp ceo is talking exclusively to cnn this hour. in about 15 minutes our david mattingly will ask him who is at mattingly will ask him who is at fault. ymptoms came back.
11:23 am
11:24 am
11:25 am
let's see here. we'll get to reynolds wolf in a second. we're talking about severe weather across much of the midwest and the south. plus, of course, we're keeping tabs on gulf coast conditions. where is the man? you want to start in the upper midwest here? >> why don't we do that? why don't we look at the mrauses under the gun in terms of severe weather. the place where we'll find a chance of severe weather is the spot right along 74 and 70. let's go to minneapolis back over to cleveland.
11:26 am
what we're seeing is the heaviest rainfall right now forming farther to the north and what we'll see later on today is this area of low pressure that will be cruising just south of the great lakes, really intensifying and it's going to be in that area where we may be dealing with some strong storms. a chance of tornadoes? yes. we do have that possibility and a possible they there will be a very good chance of heavy rain and possibly small hail ask damaging winds and tornadoes cannot be ruled out. it may be somewhat favorable in terms of bringing rainfall to mississippi and alabama, and parts of tennessee and we're expecting a very light chop in the water, one to two-foot waves and wind out of the south and southwest. so it should be pretty good there. in terms of rest of your weekend and looks like it will be pretty nice around much of the west coast and dry out there. what we'll be seeing is a bit of a warm up in the southern half of the u.s. if you look at the southern tier states, phoenix, 96 degrees and st. louis, the high for the day is 80 degrees. 90 in raleigh, 90 in tampa and
11:27 am
62 in san francisco. that say look at your forecast, tony. back over to you. >> appreciate it. thank you. got to tell you, more than 27 million people live without electricity. we're talking about rural kenya. when night falls children strain to see their school books. this cnn hero has made it his mission to lift families out of poverty by turning the sun into rays of hope for thousands. ♪ >> i have problems with my eyesight due to prolonged exposure to smoke. i had to use firewood to study during my childhood. i grew up in a small village in the western part of kenya. this family is so poor are so poor, they don't have electricity and only kerosene and firewood that they use for
11:28 am
cooking. it is very, very frustrating. i couldn't compete effectively with other kids who have access to lighting. a lot of kids just drop out of school. so they remain poor for the rest of their life. my name is evans wadongo. when i made the first lantern i thought i must find it, i was so overwhelmed. i knew the impact that the lantern would have in the rural communities. ♪ ♪ ♪ >> the amount of money that every household uses to buy kerosene every day. if they can just save that money they would be able to buy food. >> all along i've been, at least two meals a day, to construct lamp, but i want to do more.
11:29 am
>> it gives me satisfaction to know that i'm lifting people out of poverty. i just feel like it's right. i've got to tell you in 2004 when dongo founded the program and has so far given away 11,000 lanterns to kenya's rural families. if you would like to nominate someone who you think is changing the world, just go to cnn.com/heroes. >> new signs the economy is recovering. they break down the numbers and in just a couple of minutes we will hear directly from bp's ceo on the oil spill. are we walking you into the -- >> that's classy. ♪ who's born to care this life was protected... ♪ seems you've always been right there ♪ this life was saved... ♪ soothing sadness
11:30 am
♪ healing pain and this life was made easier... ♪ making smiles appear again because of this life. nursing. at johnson & johnson, we salute all those who choose the life... that makes a difference. ♪ you're a nurse ♪ you make a difference
11:31 am
11:32 am
pictures, information, insight you won't find anywhere else. cnn "newsroom" with tony harris. for fresh signs that the job market, i don't even know the end of my own promo. saying. the stock market is starting to heal now and the economic recovery is gaining momentum.
11:33 am
the april jobs report shows the big of the gain in four years. joining me now to talk about the jobs and the economy, danny boston, from the department of economics at georgia tech. give me the not so good with the april jobs report. >> all right upon the april report. >> yes. >> it's a good message wrapped in a bad package. >> okay. >> here it is. everyone is looking at the increase of 9.7% to 9.9%. >> yes. >> but 850,000 people came into the job market. that will drive the unemployment figure up. there were 290,000 jobs created which is very significant. we need about 250,000 to get this unemployment picture down some and we're exceeding it. >> remind us again, we see a good trend line developing here, but it really is going to take us a long time to dig out of the
11:34 am
hole that we're in. >> it will take a while. >> good numbers now, but we're in this for the long haul, right? >> right. >> the broader economy now. i'm listening to a trader on one of the radio shows and one of the wall street traders saying in spite of what happened yesterday with whatever was going on with the markets on wall street, that there was a lot of good stuff going on in the economy right now from earnings reports to what we're seeing with jobs. talk us through this because you sent us a note from zurich, mr. big shot, patting yourself on the back which is the reason why we have you on the program because you than stuff not because you don't. what's happening in the broader economy, the signs of the so-called green chutes. >> what happens is the economy is growing much faster than economists have forecast. >> yeah. >> 3.2% last month, right? very significant and when you look at the job gains this month all across the board. the only major industry where jobs were not gained was in
11:35 am
transportation and wholesale and that's largely attributable to all of the flooding and the volcano and the disruption of the world trade, i think, and so but for that we actually would have exceeded 300,000 jobs. so we got gdp growing. we have increases in productivity, very significant and that's driving the output. plus, i think, the thing that is off the screen, but very important. >> yes. >> is that there's a lot of pent-up demand by consumers and they are hitting the streets now spending that's been reflected in the retail sales and then that's ultimately going to drive the economy along with this increase in productivity. >> that's terrific. >> all right, and that's something to keep an eye on. if we can get the housing sector turned around i little bit and that's tied to jobs. we know that, then we might become a little more confident about this recovery taking hold for everyone. >> right. >> and if we can get mother
11:36 am
nature to cooperate a bit. >> no more floods. >> no more volcanoes. >> yeah. >> good to see you. >> great to be here. >> wonderful new set. >> you like it? >> i love it. beam me up, scotty. this is great stuff. >> we'll work onicatoring for your next visit, all right? >> all right. while the jobs story will be a tough one for a long time here, we are finding some amazing stories of people who have refused to give up despite the tough economy. we have got one of those stories for you coming up. okay. so at this time we were going to talk to bp's ceo tony hayward. we've just learned that he's running a bit late so we'll get you caught up on what's happening right now in the effort to cap that oil leak in the gulf of mexico. officials say that huge containment box that you see the animation on right here should be in place very soon. it is being lowered 5,000 feet to the sea floor in hopes of capturing oil that has been gushing for two weeks now.
11:37 am
oil from that leak is starting to wash ashore. our brook bolduan is on the front lines. >> take a look at what we found in the water. this is the oil, this massive orange sheen is the oil. we're 25 miles south of the gulf coast. let's take a closer look and see what it looks like. it is all over this side of the chandeleur islands this, kind of orange almost goo. dr. george was good enough to drive us out here to see the oil. we just came upon this. what you see this, what do you think? >> right now we're at a proper fishing location. we fished the chandeleur chain and it's on this side of the island right now and we'll keep on going south. >> as you take a look at the oil in the water, we noticed that it's 18 inches deep. i've seen some fish already swimming through it, so as to
11:38 am
get a better glimpse of what it looks like under there, let's take a look with our underwater camera. one of the biggest concerns here with the oil spill, of course, is the wild life and now we have a front-row seat to what these experts are talking about. this is new harbor island, there are hundreds of pelicans here. this is nesting season. the pelicans, their babies and you can see here just about ten feet from the shore the authorities have put out this protective booming to do precisely that, trying to protect this habitat. >> today we have perfect conditions and here's one of the criticisms. this is a close look at the booms. the booms are supposed to keep all of this oil from going to the ecohabitats in the islands. this massive criticism is that if the wind is worse it can easily go over the boom and another worry is because the oil is so broken up, underneath these booms are this thick it can go right on under. >> when i see the booms,
11:39 am
anything above a 15-knot wind, it's over. it's not going to serve its purpose. when do you go back to work? >> you don't know. >> that's it. we don't know and right now what i've seen out there, it's going to be later than sooner. >> wow! cnn's brook bolduan for you. we will take you to a government research site where oil slick clean up techniques are tested and it's what's being used right now in the in the gulf of mexico real time. the cnn exclusive next hour. in the country! [ male announcer ] when stress gives you heartburn with headache... alka-seltzer gives you relief fast. [ low male ] plop, plop. [ high male ] fizz, fizz.
11:40 am
11:41 am
11:42 am
our top stories now, it's really just one top story, the cumberland river in nashville is below flood stage for the first time since torrential rains pushed it out of its banks. floodwaters continue to receive and the businesses are starting to reopen. 21 in tennessee alone. cnn's anderson cooper talked with one man who rescued several people from the rising water. >> how many people did you end up rescuing and bringing into your boat? i know there were a bunch of people with boats doing the exact same thing you were. >> there were several boats. at river plantation i think we made 15 or 18 trips with people in it. we moved to a different location with the fire department, engine 37, those anyways are heroes. they're heroes every day. we stayed with them until 8:00 last night. >> you ended up taking dozens of people in your boat. >> we did. we did. >> we moved from river plantation to the interstate and we moved people from the interstate over to dry land.
11:43 am
>> cnn was the first on the scene when the earthquake hit haiti. we are committed to staying on this story. our soledad o'brien is focused on efforts to help orphans. she joins me live with a preview of her upcoming -- there she is. documentary rescue. we'll talk to soledad in a minute. you're in the cnn "newsroom."
11:44 am
11:45 am
11:46 am
it has been almost four months since haiti's catastrophic earthquake. it orphaned tens of thousands of children. our soledad o'brien introduces us to an american missionary family whose commitment to helping haiti's orphans came years before the quake hit. >> arianna has dreamed of helping haiti's orphans since she was 9 years old. she's one of thousands of missionaries living in haiti. her journey started in california with a few coins. >> i started putting a little money in a jar, just planning on going to haiti. the jar started getting so full
11:47 am
and my dad started putting coins in it and i started putting dollars in it. >> in 2004, ar and i her parents bill and suzette visited haiti. ♪ ♪ >> one year later, this family from california had re-located permanently. >> some people would say now how did a bunch of grown ups follow an 8-year-old to haiti? >> it wasn't my plan, i'll tell you that, we wanted to encourage her and we thought it was wonderful this little 9-year-old girl had this dream to build an orphana orphanage, a school and church in haiti. i never thought i would be here with her. >> go back and they there, right? >> bill and suzette founded the lighthouse orphanage. you started with all boys. all boys, 12. >> when did you start the girls orphanage? >> that started december 2006. they were consumed by a desire
11:48 am
to help the children. haiti has among the highest rates of infant mortality, child sex trafficking and child slavery in the world. >> ari's dream, more than anything cells that these kids that are our kids at this orp n orphanage will be handing out that cup of water and 50 kids they're growing up influencing others can make a difference in a country. but the faith that had secured them for years was about to be test tested. when a powerful earthquake strikes haiti. >> so right now we do not think it's safe to be here. we're trying to get extra security, so until we do, we have a plan. and you really don't have a choice of what to do. we are going to tell you guys. >> so, tony, we follow these
11:49 am
orphans and also this family of missionaries through the devastation of this earthquake. and also we'll tell you what eqeq"bphph fcfcfcfc gunmen come over the walls and rh(j%q"bphnd we'll also tell you about some of the tough decisions they have to make in the wake of the earthquake. that's coming up, our documentary "rescued" is coming up, at 8:00 p.m. eastern on cnn. help me with my mind, my short-term memory loss here. i seem to recall doing an interview with you from haiti when you were on a bus with a group of kids and you and everyone else involved were trying to hustle those kids out of harm's way. are some of these kids featured in your reporting this weekend >> yeah. absolutely. that was a different orphanage. that's not the lighthouse that was maison -- place of god for
11:50 am
children, but they are, but we feature them in our documentary as that same really hairy trip as they board everybody on the bus and try to make it to the embassy where they're turned back in temperatures. they are part of our documentary, which really focuses on the nation's orphans and street children and abandoned kids and the child slaves. that's really our focus for this documentary. >> i can't wait to see it. i remember that phone call with you and we were worried about the kids and you in all of that. can't wait to see it. soledad, appreciate it. thank you. and again, be sure to watch soledad's special "rescued" this weekend, saturday and sunday nights, 8:00 eastern only on cnn. "i heart chihuahuas" and "i heart labs." she even shared it with "i heart cats." premium starbucks via ready brew. now available wherever you buy groceries. ♪
11:51 am
high arches. (announcer) people everywhere are discovering what's going on with their feet. dr. scholl's custom fit orthotic center. backed by foot care scientists, its foot mapping technology identifies the areas you put pressure on then recommends the right orthotic. for locations see drscholls.com.
11:52 am
11:53 am
( tires squealing ) to have bad tires. come to meineke and save $20 on two or more tires. at meineke, you're always the driver. ♪ that's not bad, huh, singing for flood relief in nashville. former hootie and the blowfish brought darius rucker to wsmv's telethon. let's bring it into better focus here. ines ferre has compelling i-reports. we have seen some amazing video. our photographers, photo journalists have done a terrific job of capturing images of the flooding and people involved. oftentimes nothing brings it home, you know, like still pictures, ines.
11:54 am
>> that's right, tony. we have such incredible still pictures. the first four that i'm going to show you are actually from i-reporters in is from paul and he says that there's an incredible clean-up effort going on right now. and we've got, also, the next one that i'm going to show you, if -- there we go. from sandy rochelle. she's an unemployed newspaper photographer. look at these images that she took. they're incredible. this is a hair salon. you can see some of the chairs that they put out there. i mean, there this is incredible stuff. as the waters have been receding you're seeing that people are just -- they're devastated by the things they've lost. you can see photographs there on the ground and lamps and all sorts of furniture outside. and these two people actually lost their 74-year-old friend to the flood. so unbelievable. and people are just so shocked when they see their home. and tony, i just want to show you this one. this one is -- this person right
11:55 am
here is actually a volunteer. leda williams, showing him a picture of her home so he can take away the initial shock before she sees her home. she just moved to nashville about a month ago. >> amazing, amazing pictures. all right, i know we've got i-reports coming next hour. ines, appreciate it. i got to tell you the flood waters inching downward in nashville. that spells relief for a city in recovery. we will show you what it looks like now as residents go home to survey a lot of damage. plus, riding out the recession. poppy harlow reports on how living within their means kept the people of nebraska from the the people of nebraska from the worst of the financial crisis. other things
11:56 am
11:57 am
11:58 am
290,000 jobs added in april. that is the most in four years. unfortunately one of those positions did not go to john jer rel of maryland. cnn photo journalist john profiles the out of work truck driver who is doing whatever it takes to get by. it is today's "jobs in focus" segment. >> a little exercise, trying to stay as fit as i can. enjoy it. not many people do it. this is heavy stuff. it's a lot of work. that's how we do. you never know when life is going to throw a physical challenge at you and you need to
11:59 am
be prepared. when i can't find a job i come home aggravated with that and i get on these and start all over again the next day. i was driving a truck before i had a driver's license. i've been in construction, demolition, running equipment. last job i had was pumping out port-o-potties. this is mine. gross. they're all just like it. i didn't like that at all. this one is not gross and disgusti disgusting. single father of two little girls, so i'll do anything i have to do to keep a roof over their heads. so i cleaned those potties so my daughters would use them. >> he liked it because it's another thing that he could check off his list. he would always come home and tell me all the weird things he found in them. >> scrub it down. scrub it down. every day was an adventure. you lift the lid. when you open that door, you never knew what you were going to get. fire the pump up. that was an humbling experience, i assure you. roll on to the flex one. i've always had a job. this is my first time with this. i guess it's a classic case of,
12:00 pm
well, that's not going to happen to me. well, here i am. >> in today's market i'm not going to take any risk. >> unemployment sent me a letter saying it was mandatory class and walking in there i didn't know what to expect. very informative. a lot of good advice. ma met a lot of different people from all different facets of work. and everything they were teaching us was tools you can use if you want. i found a lot of them to be valuable. public library up the street. i've never had any training on a computer, so she's my little teacher. she's learned it all in school. we'll go up there. there's one right next to each other. that's how we do it. that way i don't have to yell, ah, freak out. i'm applying at two or three places a week. leaving applications. everybody is like, we'll give you a call if something comes up. >> i wish that he could find a job that he enjoyed and was like, all right, i'm going to work and be happy about it. >> i see the future as being
12:01 pm
bright. i'm not going to be on this forever because i know something is going to happen better. something is coming my way. i just have to believe in that. that's a good morning. >> good morning. hi, again. i'm tony harris in the "cnn newsroom," where anything can happen. usually does. here are some of the people behind today's biggest stories. one of the lowest foreclosure rates in the nation and unemployment rate under 6%. what are they doing right in nebraska? >> we have a tendency to do crazy things, like only spend money when we have money. >> lessons from omaha on surviving tough times. and surviving the historic floods, they've lost their possessions, but they haven't also hope. >> i lost everything. everything is ruined. >> i keep stop and thinking i'm alive. you know, everything else, the rest of my life, if i have to fight cancer or whatever, i mean, it's going to be a piece of cake to what i went through. >> wow. we know a lot of you are online right now and we are, too. ines ferre is following a top
12:02 pm
story, trending online. ines? >> that's right, tony. on cnn.com you've got some of the top stories on the oil leak capturing the leaking oil, and also stocks tumble. and the stock market and the april jobs report. those are some of the big stories that we're seeing. >> terrific, ines. thank you. let's do it. let's get started if economic arrows are moving in the opposite directions today. payrolls in april show their biggest increase in four years but it is not a tonic to calm investors. the stock slides continue down more than 200. nothing compared to yesterday when the dow jumped off a cliff in mid afternoon. the index down almost a breath-taking 1,000 points? and justs a quickly the dow recovered most of the loss to close down 348 on the day. even on today's jobs report has its downside. the unemployment rate crept up the 9. %. that's even after companies added 290,000 jobs. so we'll explain. let's get to cnn's christine
12:03 pm
romans and cnnmoney.com's poppy harlow. christine, let me start with you. i think it's a fourth month now of this economy, adding jobs, break out, if you would, for us the good, the bad, and i won't say the ugly, of the jobs report. >> there's always a little ugly when you talk about to jobs market, tony. 290,000 jobs created overall. much more than people thought if jobless rate ticked up to 9.9%. wow. that's really close to 10% unemployment. there's nothing good about that. but that's actually, according to christina roemer in the white house counsel of economic advisers natural because people are entering the workforce because they think things are getting better and maybe there's going to be a chance for them to get a job. that's why you the unemployment rate going up to 9.9%. two things here happening, tony. on one hand, people are finding opportunities for the first time in a long time in the jobs market. make no mistake, they are finding opportunities. they are finding jobs. on the other end, 46% of the people who don't have a job,
12:04 pm
have been unemployed for six months or longer. that is unheard of in a modern economy. very dangerous. it means there are people who are being left behind in the recovery. i want to be clear about that. where is that jobs growth coming it's coming in professional and business services. 80,000 jobs created there if census created 6,000 jobs. you had some people saying any kind of economic growth is only going to be census represelated. no. leisure, hospitality, manufacturing, hale carealth ca of these adding jobs. that was pretty broad based overall. on one hand the economy is starting -- starting to work for some people. on the other hand, millions of people have been left out and haven't been able to find a job yet. that's what we're still watching. >> stand by a second. let's get to poppy harlow now i believe on the floor of the new york stock exchange. poppy, we're looking at a pretty good number of jobs added in april and yet -- and yet the markets still struggling. >> the markets struggling but if
12:05 pm
we can pull up the big board for folks, tony. watching it down here. off 35 points. near the best levels of the day. the jobs number as christine emphasized, strong but many people left out of this recovery. the big question that we're dealing with here on the floor yesterday is that we saw the biggest point decline for the dow industrials in history. a trillion dollars in wealth was lost in ten minutes. unbelievable. we saw recovery but saw the worst day here, tony that we have had in a year. talking to a lot of traders asking just what happened. is this to plame blame on electronics, on technology? one trader said it was already a bad day made worse by technology. i want to play some sound to me to hear from the traders directly about what they think caused this and what it means on a broader scale. take a listen. >> clearly we have had pressure on the market. this just added on top of it. it made the problem even worse. it shows investors that, you know, you have to look at the markets where you're trading. you have to understand that human interaction is something that we need. and speed isn't always the
12:06 pm
answer. >> this is the new trading world. it's great for the professional trader, but it is terrible for the public. >> it's terrible for the average investor? >> oh, absolutely. because the average investor, and that can be an institutional customer or an individual, didn't sign up for this volatility. >> and he is exactly right. volatility, tony, as a matter of fact, traders here only trade about 30% of the stocks. most of it's done by computers. tony, you can't stop computers all the time. >> poppy, appreciate it. christine, appreciate it. good to see you both. thank you. got to tell you, the ceo of bp is on the hot seat over the oil gushing into the gulf of mexico. cnn's david mattingly joins us live with tony hayward from venice, louisiana. david, good to see you. and our thanks to the bp ceo for joining you for a couple of minutes here. >> that's right, tony. going straight to the top for answers on this disaster. you've got that containment dome on its way down to the bottom of
12:07 pm
the gulf of mexico. how confident are you that this is going to work? >> well, this morning it's about 200 feet above the leak, being lowered very carefully on to the leak. and then we have the task over the next three to four days of doing the plumbing. taking the pipe up to the vessel on the surface to place it. this has never been done in 5,000 feet of water. it's a technology first. it works in 3 to 400 feet of water. but the pressures and temperatures are very different here. so we cannot be confident that it will work. that is why we continue with other significant interventions. >> do you have something ready to go just in case this fails? >> well, the ready to go is containing the spill for the maximum extent possible. and then there is a further operation on the blowout preventer, which will probably take two to three weeks to bring into place. >> you're drilling for oil a mile underneath the ocean.
12:08 pm
wus why wasn't something ready to go in the event of this kind of disaster? >> this has never happened in 25 years in the industry. >> yes, i understand that. but -- >> the blowout preventer, 25 years. >> there are risks involved in this. was this something that you just never ever thought would happen? >> it was considered to be an extraordinary low, low probability. and what we implemented is the response back. and that is what you're seeing, is what you're seeing all around us here. it's what you're seeing with the ships on the surface. it's what you're seeing with the dispersement attack. what we've implemented is the response. clearly in the life of this incident the industry will need to step back and determine what more might need to be done. >> the accident aboard the drilling platform, you made clear that was the fault of that company, that drilling company. but it was your oil that was coming out here and is now poisoning the gulf of mexico.
12:09 pm
what kind of oversight did you have on that drilling operation? >> we had the sort of oversight that an arc tech has on the building site. it's the industry structure. so we had oversight of the -- we had the design. they were doing the building. but, you know, i think -- we can review the issues around that in the future. our focus today is responding to the incident. we're focused on eliminating the leak. many options being pursued. first one going into place as we speak. we're focused on containment on the surface and we're focused on defending the shoreline. that is what you see going on all around me now. >> this spill is the size of large island now. how much larger will it get? >> that will depend on how successful we are in eliminating the leak and containing the spill. none of us today can say with certainty what that is. what we are doing is throwing the full resources of the coast
12:10 pm
guard, bp, other federal agencies, the local communities at this problem. >> you've also been applying a lot of dispersent to this spill. you stopped applying it under water for a time. why did you stop doing that? >> this is the first time it's been applied at a depth on the seabed. it appears to be having a very significant impact. the noa a&e pa scientists wish to establish a baseline such that we can track what is happening and learn for the future. and i would expect that within the next 12 or 18 hours we will be back to applying this, having established a very thorough and rigorous mechanism. >> the issue of responsibility, how much is bp prepared to pay for this clean-up and for compensation? >> we are the responsible party. we are going to clean this up fully and completely. and we have said very clearly
12:11 pm
where there are legitimate claims for business interruption, then we will be good for them. >> legitimate claims for long-term, short-term? >> legitimate claims. >> how many years are you prepared to pay fishermen for a bad catch? >> i said legitimate claims. all those things we'll need to sort out. what we're doing today is focusing on ensuring the people who have been immediately impacted are fwg dealt with. we have claims offices now opened here. they are paying money. our immediate concern is to ensure that the fishermen here who aren't fishing are either working in the response and being paid for it or if they're not, then we're providing them with the funds they would have gotten. >> there's a $75 million limit but how much are you willing to pay beyond that? >> we have said that it is inevitable that the $75 million limit has no relevance in this case. >> are you looking at billions? >> i think that's all for the future. we are absolutely, as i said, going to take full
12:12 pm
responsibility for cleaning this up and we will honor legitimate claims. >> who will decide when enough is enough? will bp decide that they've done enough or will the public decide? >> i'm certain ultimately we will be judged in the course of public opinion about how we've responded to this. the scale of it, intensity of it, the quality of it, and ultimately the success of the response. >> tony hayward, bp ceo, thank you very much. tony, back to you. >> appreciate it. thank you. we have got much more on the oil spill for you. cnn's exclusive look at how the government trains for disasters like the one in the gulf. i just want fewer pills
12:13 pm
and pain relief that lasts all day. take 2 extra strength tylenol every 4-6 hours. i'm taking 8 pills a day, and if i take it for 10 days, that's 80 pills. just two aleve can last all day. perfect. [ male announcer ] choose aleve and you could be taking 4 times fewer pills than extra strength tylenol. just two aleve have the strength to last all day. get the all day pain relief of aleve. also in liquid-gels. 100% natural nuts and granola in bite sized clusters. it's a little bit of nature... a little bit better. and nature approves. granola nut clusters from nature valley.
12:14 pm
our random moment of the day. it is super sized for friday. america loves big. since we're watching our weight, good thing they build the world's biggest burger in canada. 500 -- oh, that looks good. oh, man, 590 pounds of burger. but the guinness people have not made it official yet. the chef built a special grill to hold the patty. he had no use something like a forklift to flip the burger. random moment, half million calories. that's the best we could figure.
12:15 pm
12:16 pm
another big story we've been following all week. tennessee's massive flooding. people are going home to see the damage. many of them have no flood insurance. martin savidge brings us their personal stories. >> reporter: on west hamilton street everything everyone ever had is now on the sidewalk for everyone else to see. walk down the street and the flood stories still pour out. >> the water just gushed in. and it had a force to it. >> they put this rope around me and pulled me through this water. scary.
12:17 pm
whew, i was so scared. >> the water line was there and here in the living room. you can see on my -- >> so on you, that's chest high. >> yeah, and i can't swim. >> reporter: two days of rain and water from whites creek did this to a working class neighborhood where most have lived for decades and few have flood insurance. everyone dreaded coming back. >> and we prayed that we would not -- whatever we found, it would be something that we could learn from. >> reporter: soon the first trips to the curb began. what have you lost? >> i lost everything. everything is ruined. >> are you worried? >> yeah. but i'm going to be okay. we're going to be okay. >> reporter: like they say, one man's trash is another's treasure. he gets $135 a ton from a scrap dealer. what are the things you carry away most? >> refrigerators, washing
12:18 pm
machines, dryers, water heaters. the heavy stuff. >> reporter: ronnie coleman lost everything and gained something. >> i keep stopping and thinking, i'm alive. you know, everything else, the the rest of my life, if i have to fight cancer or whatever, i mean, it's going to be a piece of cake after what i went through. >> reporter: i watched with sherry hathaway as a city truckloaded her stuff for the dump. is that your life going away? >> yes. it sure is. children's lives, our lives. >> reporter: for her 24-year-old daughter jamie, it was too much. >> it's hard to watch it. i mean, this is everything we own. mr martin savidge, cnn, nashville. >> okay. we know a lot of you are online right now. we are, too. and trending right now on cnn's website is the oil spill clean-up effort that people want to know exactly what's been done
12:19 pm
to fix that mess in the gulf of mexico. we have insights in just a couple moments ago from david mattingly's interview with the ceo of bp, tony hayward. and ines, cnn actually gained exclusive access to oil slick clean-up technology, correct? >> yeah, that's right. the government's oil spill research and training facility in the new jersey coast. and cnn has gained exclusive access to this. in fact, the first time that tv cameras have actually entered the facility. and this is where they test out techniques for cleaning oil spills. and allan chernoff was there. listen to this. >> reporter: when trying to clean up a giant oil spill how does the oil industry know exactly what to do, what techniques are going to work? the research is done right here at omset, the oil and hazardous materials simulated environmental test tank. this facility is run by the
12:20 pm
interior department minerals management service largest of its kind in the world. oil sprays into the water, a slick forms and expands. but it's all intentional. here the government creates controlled oil spills in a giant tank more than two football fields long. operators create ocean wave conditions, then they use various techniques to clean it all up. there are three primary plans of attack for cleaning oil spills in the water. burn the oil, apply chemical dispersants to break it down or manually remove it. all three are at work in the gulf of mexico. >> you would try to use as many techniques as you can to remove the oil off the water, surface of the water. >> reporter: you get out every form of or t artillery you've g. >> yes, sir. >> reporter: today they use these techniques. taking oil off the surface of the water is kind of like peeling the feeling off of an
12:21 pm
oreo cookie, you are skimming it. that's what these devices do, they skim the oil off the water, we the pending upon the grade of oil. how heavy it is, you use a different type of skimmer. all different types of oil are sprayed from a moving drinlg r bridge. they can test skimmers, various dispersants and even burning. it simulates the ocean and the wave patterns. we all know that oil is lighter than water. that's an average of cleaning up the spill. the oil sits on top of the water, using those booms oil can actually be pushed into that skimmer and then it is sucked up using this giant vacuum. clean-up workers from private industry, government, and 24 countries around the world have come here to practice and research such techniques. including responders trying to clean the gulf of mexico right now. >> you want to be prepared. firemen have fire training centers.
12:22 pm
paramedics have paramedic training centers. responders, you have this tank. >> reporter: the gulf clean-up presents an immense challenge. high waves have made it difficult to contain the oil. but the minerals management service says industry and government are better prepared to handle this a tcatastrophe t the "exxon valdez" years ago. >> folks are better planned, better trained. >> reporter: thanks to this facility the folks who are in the gulf right now know exactly which teak feek neneeks to use. allan chernoff, cnn, leonardo, new jersey. >> tony, i'll be back later to show you some of the most popular stories. >> that's what i need. all right, ines. appreciate it. let's get you caught up on top stories. british prime minister gordon brown is jockeying to keep his job today. he gets first shot at forming a coalition government. neither major party won a
12:23 pm
majority in yesterday's election. imperial, brands of romaine lettuce are facing a recall today. 1 people have gotten sick. three are hospitalized with life threatening symptoms. in california, four boys who wore american flag shirts to school on cinco de mayo have returned to class. school administrators sent them home on wednesday. they say the shirts could have provoked a fight with mexican-american students. >> i have no problem with them wearing their mexico flags. i just thought i would show my pride. >> they told us to take it off or we get suspended. they threatened us with suspension. so we all decided that we were just going to leave school. about 200 latino students skipped class thursday and marched to the school district office under police escort. still teens drove by repeatedly taunting the marchers with american flags. some shouted obscenitieobscenit.
12:24 pm
12:25 pm
this is one of those stories. a community that comes together to make a little girl's wish come true. the town threw her a big birthday party and raised money for a trip to disney world. producer lisa janson has the story from mt. erie, maryland. >> my favorite color is purple. >> your dress is beautiful. >> thank you. >> you're very welcome. >> all i really know is that i'm having kind of a big party today. i saw this dress and i was, like, oh, my gosh, that dress looks exactly like tinkerbell's. and i always wanted to look like tinkerbell. and now i do. >> this is what i wish every community in america was like,
12:26 pm
in the world. when mckenzie was originally diagnosed, they were there. somebody set up a bank account for people to just contribute money to to help with bills. we have had food delivered by communities, my community has carried us through this, through all the hard times, through the good times, and holding us up. you look beautiful. so today is all about celebrating her living. >> i think it's awesome. >> she has fought for years and i want to see that glow and that look of pure surprise on her face. >> i feel like a princess. >> happy birthday, mackenzie! >> happy birthday! >> the community has been amazing. people that don't even know mckenzie, have never had a child with cancer, they just stepped up and said, what can we do?
12:27 pm
>> it's a small town. everybody care about everybody. >> what do you think? >> i love it. >> mackenzie, we met her four years ago with her first brain tumor. she started really working with us. talked to large audiences. you know, what it's like to have cancer, the experiences that the kids go through. >> but it has never been me, me, me. she has never said, it's not fair. we had to tell her that there is no more treatment that we can do to kill this cancer. and so we want to make sure that the time that we have together is things that she wants to do. one of the things we say and it's from a children's storybook called "i love you forever." i love you forever. >> i like you for for always. >> as long as i'm living. >> my baby you'll be. >> my mommy you'll be. ♪ happy birthday to you >> i wish that every community,
12:28 pm
if everybody just reached out and did one thing for somebody else, the world would change. ♪
12:29 pm
12:30 pm
let's see here. italy, spain, germany today approved their contributions to a bailout plan for greece. what does it mean to you? what does it mean to your finances? jeanne of the cnn money team is with us and joining us from new york to talk about that. great to see you as always. explain to us why you believe what's happening in greece is important for us all to pay attention to? in particular to what happened yesterday. >> right. one is that markets do pay attention to sovereign debt problems. and, two, they turn very, very quickly went they decide they have doubts about a country's ability to handle those debt problems. yesterday there was a lot of debt about the aid package for greece and a lot of concern about contagion, that problem spreading throughout the eu. so the united states has its own fiscal problems and while we're in better shape than greece, we
12:31 pm
are not as far away from their situation as anyone is comfortable with. i was at a meeting this week with leading budget and fiscal experts and they were talking about what is a tipping point for a fiscal crisis? one of the things the participants said is you have to be on an unsustainable path, which the united states is. and you have to have a fiscal policy not credible with the markets. we've met that first requirement. that's why experts are saying, look, now is the time to come up with a credible plan to reduce the deficit over time. it's not a plan we're going to implement right away. we're going to wait for the economy to be in better shape. we've heard a lot of good economic news today. that's great. there's still some more development to go there. the idea is to come up with a serious plan that the markets take seriously. so they can rest assured that when the time comes that the united states can afford to cut spending and increase taxes without unduly harming economic growth or job creation. >> you've hit upon it. look, the politicians, it feels
12:32 pm
to me are hope for cover for the tough decisions to come from this fiscal commission. the truth is, it really is time for someone to begin to tell the american people the truth about what is going to be required. we're talking about, as you mentioned, cuts in government spending and tax increases to get our fiscal house in order. correct? >> well, if it's going to be palatable, yes. there are people who believe all we have is a spending problem so we should just cut on the spending side. the truth is the cuts would need to be so severe it may not fly. you might need to cut it 40%. that's the -- discretionary spending is a third of our budget. cut that 40% is an enormous hit to many of the things that government does. >> before you go too far here. when you talk about discretionary spending and cuts that might be necessary there, what are you talking about, education, infrastructure, maybe defense? >> everything. everything except medicare, medicaid, social security and interest on the debt primarily.
12:33 pm
those are mandatory spending items. and there are a couple other things. those are the requirement ones. really everything else government does falls into the discretionary pot. so it may not be realistic to go that deep that quickly. so if you come up with a measure that would cut spending some and raise taxes some, that will be, that will go down a little easier. even though there is a lot of partisan warfare over this, that's the problem. it's lack of political will to do something that would worry markets more than an actual solution. you're going to need political will. >> so, jean, i anoint you as the person who is going to be responsible for doling out the tough news to america. okay? >> yeah, okay. >> it's all on you. >> thank you. >> good to see you as always. living the good life in omaha. the town manages to survive, even thrive, during the recession. recession. how does nebraska do it?
12:34 pm
12:35 pm
12:36 pm
i want to get you to the best website for financial news on the web. that is cnnmoney.com. take a look at the cover story at cnnmoney.com.
12:37 pm
296 funked up stocks, that is the parliament headline of the day. 296 funked up stocks trades canceled. so for the best financial news and analysis, cnnmoney.com. better than three hours into the trading day now. let's get you to the big board, new york stock exchange. we are certainly off of session lows. we were close to, what, 200 points in negative territory earlier in the day? we rebounded quite a bit here. but we are still down 84 points. the nasdaq is down, what was that, sonya? 31 points. we're following the numbers throughout the day for you right here in the "cnn newsroom." it seems like we've been talking about this economic downturn that the country has been going through for the last couple of years, to be sure. you know, one state that has weathered the downturn amazingly well is nebraska. how has nebraska done it? we sent our poppy harlow to nebraska to find out.
12:38 pm
>> reporter: a high-end boutique selling thousand dollar purses and books about paris, not exactly the fields you would expect from omaha, nebraska. >> it was a childhood fantasy of mine since i was 7 to move to omaha. >> reporter: so alice kim moved from the big apple to the big "o" as they call it here and opened her boutique at the peak of the recession. >> i knew that there was going to be kind of like great steady wealth here. >> reporter: as for the hangover from the deep recession? well, let's just say omaha skipped a headache. >> we have a tendency to kind of grow steadily so we don't end up with bubbles. it's a slow growth, conservative approach to do business. >> reporter: that conservative attitude helped keep the housing bubble at bay and as a result omaha has one of the nation's lowest foreclosure rates. and the city's diversified economy, from farming to insurance to railroads has helped omaha get by with an unemployment rate of just 5.9%, far below the nearly 10%
12:39 pm
national average. and on a sunny saturday afternoon, the home of warren buffett and the college world series is buzzing. here in the old market warehouses are turning into condos, shoppers are buying, and ron samuelson's two restaurants are filling up for lunch. you made it through the recession. is business good? >> business has been very good. we've had our ups and downs. it hasn't been, you know, a cake walk for the last couple of years. we try to concentrate on what we do well. >> right now with all the building of the condos and all the real estate really being snatched up, at this point, you know, i just continue to see, you know, lots of growth. >> reporter: what's their secret for riding out the recession? living within their means. >> we have a tendency to do things kind of crazy things, like only spend money when we have money. >> for people in a place like nebraska, or omaha, it's just common sense.
12:40 pm
it's not rocket science. >> reporter: poppy harlow, cnn, money. we're going to take you globe trotting on the top stories of the day including the oil spill and britain's big election results. down the hill? man: all right. we were actually thinking, maybe... we're going to hike up here, so we'll catch up with you guys. [ indistinct talking and laughter ] whew! i think it's worth it. working with a partner you can trust is always a good decision. massmutual. let our financial professionals help you reach your goals.
12:41 pm
12:42 pm
12:43 pm
all right. let's try this from the touch screen. let's get you caught up on our top stories. we get started with political disarray in the uk. a conservative perform the labor party and parliamentary elections, both the enkem bent labor party prime minister and the conservative party leader are trying to make deals to form a new government. we'll continue to follow that story. now let's take you to washington. there you go. and we're just learning the white house announcing just moments ago that afghan president hamid karzai is traveling to washington. he is scheduled to meet with president obama at the white house. that is scheduled for wednesday. and one more top story for you here. there you go. that 100-ton concrete and steel box is close to being in place
12:44 pm
to cover the blowout well in the gulf of mexico. it is supposed to collect as much as 85% of the leaking oil and funnel it into a tanker. we will, of course, continue to follow that story. still to come, just last year he was a favorite on "dancing with the stars." now, famous, ex-linebacker lawrence taylor is out on bail and denying charges of third degree rape. that's the story coming up for you on the other side of the break.
12:45 pm
12:46 pm
12:47 pm
weight loss company kn nutri/system has ended with lawrence taylor. he was charged with rape yesterday in upstate new york. he's also charged with patronizing a prosecute in the case involving a 16-year-old girl. taylor's attorney denies the charges.
12:48 pm
>> my client was in town to work. he was going to play some golf with some friends and he was going to work. and then this nightmare unfolded before him. lawrence taylor did not rape anybody am i clear? financial experts answer your questions on a home loan modification and health insurance for your children. here is stephanie elam at the help desk. >> time now for the help desk where we get your answers to your financial questions. joining me this hour, greg mcbride for bankrate.com and jack otter, executive editor of moneywatch.com. from david, i nifr messed a mortgagor credit card payment in my life and i'm having trouble modifying my loans with my mortgage lenders. when i call to refinance they say i was uneligible because they said i was unemployed. they said i would not qualify because i didn't miss any mortgage payments. is there anything i can do? sounds like he's getting
12:49 pm
penalized for doing the right thing. >> you do have to be able to show that steady income to qualify. it's just like getting a new loan. that option a tough a t. table. you do not have to g behind to get a mortgage modification. they contain a specific provision designed of help unemployed homeowners in this situation. so be persistent with the lender. frustrating that the information you get often depends on who answers the phone. but be persistent because there are options out there. >> our next question comes from dean. and he writes in, how long will it be before we can take advantage of the new federal law extending the age that our dependents can stay on our health benefits through work to the age of 26? is this big enough to constitute a change in life status so we don't have to wait until open enrollment or will this go into effect right away at work? jack? >> companies are not required to make this change until january 1st, 2011. not necessarily. the good news is some qulemploy
12:50 pm
are moving ahead and doing this early, which is amazing to hear. that's good news. we have to check with his own hr department. i would give him a warning, while companies will be required to add 25-year-olds 24rks-year-olds to the roles, they're not necessarily required to subsidize that insurance cost. so it may not be free. and one more point. if your child is employed, they're not actually required to offer coverage until 2014. >> a lot of questions in there he has to dig out and find the answers to. greg and jack, thanks so much. the help desk is all about getting answers to your questions. send us an e-mail at cnnhelpdesk@cnn.com. see more of our footbainancial solutions. or pick up the latest issue of "money."
12:51 pm
12:52 pm
12:53 pm
you know what's hot music? pretty good. okay. so we know a lot of you are online right now, surfing the web. we're there with you. ines ferre is back with us. lady, what's hot? >> we took a look at the most popular stories and actually you've got this stocks right here. but right below it -- >> i love this. this is the parliament fu
12:54 pm
funkadelic influence headline, 296 funked up stocks. had to say that. >> but for a while today, for a long while you had tom katz "dirty dance" which was the most popular. this is a a dance that they did at a benefit in los angeles. and -- >> this is cruise and katie holmes. >> exactly. wow, maybe they're not getting divorced. maybe their marriage isn't on the rocks. >> stop with the rumors. oh, we love this from paramount pictures "dirty dancing." >> the next video we're going to put up is actually from youtube. and this video is from some university of oregon students and this is going to come up in any minute now. >> what happened? oh, there it is. is that it? >> it's on the air if there it is. exactly. so you can see right there, these are some university of oregon students and they're
12:55 pm
singing acappella, your favorite, your favorite, tony. >> lady gaga. can we listen to it just a little bit? do we have time, guys? ♪ i love it. i love it. we're flat out of time. that worked out kind of okay, rights? back in a home. you're in the "cnn newsroom."
12:56 pm
12:57 pm
12:58 pm
i got to tell you the emotion aal impact for being ou of work for months, today's "jobs in focus" a photo journalist introduces us to jose torres reyes at his workshop, helping people cope with job loss. >> my wife is active duty air force. every two to three yoors years we've had to move to our next assignment. i find great jobs. but i have to leave them and so i have to reinvent myself constantly. we at the columbia workforce center in columbia, maryland. we teach professionals how to compete on a professional level with their peers. good morning. my name is jose. i hope each one of you is wearing a name tag so we can refer to each other by our first name. i train unemployed individuals the best ways to find job and all the skills that they need to develop and work on in order to find the kind of work they're really, looking for. what is the value of this bill?
12:59 pm
this $20 bill, right? i can devalue this bill. a lot of them are angry from losing their job. what is the value now? still $20. what i'm going to tell you is this bill is you. no matter what happened to you, you are still the same person with the same values, the same dedication to your job with the same sense of i want to do the right thing. what happens if the ranges from $40,000 to $80,000, just think of which part of that range your resume can support? if people don't know you're out of a job, can they help you? fulfilling doesn't begin to describe. the reason you see a smile on my face, the reason you saw me smile the whole time i was teaching, the reason i'm able to interject my personality is because i not -- it's not just a job. it's about the

164 Views

info Stream Only

Uploaded by TV Archive on